Elliott Wave Analysis TradingLounge Daily Chart.
LINK/USD Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Triple Corrective.
Position: Wave Z.
Direction next higher degrees: Wave ((II)) of Impulse.
Details: Wave (II) is likely to retest at 6.882.
ChainLink/ US dollar (LINK/USD)Trading Strategy: The correction in wave ((2)) seems to be not over yet, so we focus on the decline in wave ((2)). It is likely to go down to test the 6.882 level, but all this is a short-term pullback, look for a resumption of the trend.
ChainLink/ US dollar (LINK/USD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bullish Momentum.
LINK/USD Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Triple Corrective.
Position: Wave Z.
Direction next higher degrees: Wave ((II)) of Impulse.
Details: Wave (II) is likely to retest at 6.882.
ChainLink/ US dollar (LINK/USD) Trading Strategy: The correction in wave ((2)) seems to be not over yet, so we focus on the decline in wave ((2)). It is likely to go down to test the 6.882 level, but all this is a short-term pullback, look for a resumption of the trend.
ChainLink/ US dollar (LINK/USD) Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bullish Momentum.
ChainLink Elliott Wave technical analysis [Video]
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